1、 Price trend
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Taking sulfuric acid based rutile type titanium dioxide, which has a large volume of sales in the domestic market, as an example, according to monitoring data from Business Society, the domestic titanium dioxide market declined in April. On April 1st, the average price of titanium dioxide was 17266.67 yuan/ton. On April 28th, the average price of titanium dioxide was 17133.33 yuan/ton, with a price reduction of 0.77%.
2、 Market analysis
The domestic titanium dioxide market price fell in April. In the first half of the year, the domestic titanium dioxide market prices remained stable, and the overall trading situation on the market was average. Traders were more flexible in their prices, and downstream customers were more cautious, with a focus on purchasing in demand. In mid month, the overall trading situation on the domestic exchange was slightly light, with limited new orders and a downward focus on trading on the exchange. In the second half of the year, new orders in the domestic market were limited in trading, and there was a strong wait-and-see sentiment on the market, with cautious procurement. As of now, most domestic quotations for rutile type titanium dioxide are between 16700 and 18300 yuan/ton; The quotation for rutile titanium dioxide is around 15500 yuan/ton.
According to customs data, the import volume of titanium dioxide in China in March 2024 was 10463.99 tons, an increase of 123.62% year-on-year and 45.06% month on month; In March, the import of titanium dioxide produced by sulfuric acid method reached 2391.07 tons, an increase of 81.76% compared to the previous month; In March, the import of chlorinated titanium dioxide reached 8072.92 tons, a month on month increase of 36.87%. From January to March 2024, China imported approximately 24300 tons of titanium dioxide, an increase of 84.65% compared to the same period last year, and the import volume increased by approximately 11100 tons.
In March 2024, China’s titanium dioxide exports reached 196100 tons, a month on month increase of 46.72% and a year-on-year increase of 29.61%; In March, the export of titanium dioxide produced by sulfuric acid method reached 151500 tons, an increase of 41.87% compared to the previous month; In March, the export of chlorinated titanium dioxide reached 44600 tons, a month on month increase of 65.96%. From January to March 20
24, China exported approximately 489500 tons of titanium dioxide, an increase of 11.98% year-on-year, and an increase of approximately 52400 tons in export volume.
In terms of titanium concentrate, the market price of titanium concentrate in the Panxi region remained stable, moderate, and weak in April. The manufacturer’s prices are mainly stable, while traders have more flexible prices. At present, there is a strong wait-and-see sentiment in the market, and there is significant cost pressure in the downstream titanium dioxide market, so purchasing is cautious. As of now, the tax-free quotation for grade 38-42 titanium ore is around 1580-1600 yuan/ton, the tax-free quotation for grade 46 10 titanium concentrate is around 2300 yuan/ton, and the tax-free quotation for grade 47 20 titanium concentrate is around 2350-2480 yuan/ton. In the short term, the market price of titanium concentrate is mainly strong, and the actual transaction price is negotiable.
According to customs data, China imported 478900 tons of titanium ore in March 2024, an increase of 11.23% year-on-year and 22.87% month on month; From January to March 2024, China imported a total of approximately 1.1749 million tons of titanium ore, a year-on-year increase of 6.45%, and the import volume increased by approximately 71200 tons.
In March 2024, China exported 12055.07 tons of titanium ore, an increase of 882.48% year-on-year and 1170.92% month on month; From January to March 2024, China’s cumulative export of titanium ore was about 15038.81 tons, a year-on-year increase of 39.11%, and the export volume decreased by about 4228.01 tons.
In terms of sulfuric acid, the domestic sulfuric acid market prices fell in April. According to data monitoring from Business Society, the average price of domestic sulfuric acid on April 1st was 328.75 yuan/ton, and on April 28th it was 277.5 yuan/ton, a decrease of 15.59%. The downstream market is weak, with limited demand for sulfuric acid and significant pressure on manufacturers to ship, resulting in a decline in market prices.
3、 Future Market Forecast
Business Society Titanium Dioxide Analyst believes that the titanium dioxide market has been weak this month, with stable and weak upstream titanium concentrate prices and a decline in sulfuric acid prices. The cost support for titanium dioxide is average. It is expected that the trend of titanium dioxide will be weak in the short term, depending on downstream market demand. The actual transaction price is negotiable.
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